Innis & Gunn said “choosing to invest in developing an existing brewery, rather than building a new facility from scratch” would allow it to accelerate its expansion plans.

The company plans to double capacity at The Inveralmond Brewery “in the coming six months”.

The four-year, fixed-rate BeerBond offered an interest rate of 7.25 per cent gross interest per annum on a minimum £500 investment.

Innis & Gunn said 1,105 investors bought BeerBonds with investments ranging from £500 to more than £100,000.

The company said the first interest payments on the BeerBonds will total £211,500, though “hundreds of investors” have opted to take their return in BeerBucks, redeemable in beer at Innis & Gunn’s online shop at voucher rates of nine per cent interest equivalent.

Innis & Gunn said the first tranche of investors received interest payment on July 15, and the second tranche will receive theirs on August 12.